Focus DIY set for administration as debt crisis mounts

Crewe-headquartered Focus DIY is in danger of becoming Britain's latest retail casualty after the chain confirmed plans to call in the administrators. The private equity-backed company, which narrowly avoided going bust in August 2009 after its landlords agreed to a rescue deal, revealed that it had "no alternatives" available as it was about to default on its loans. About 4,000 jobs are at risk.

Phoenix opens Manchester office and has £450m to invest

Phoenix Equity Partners has opened an office in Manchester’s King Street and is seeking opportunities to invest part of its recently raised £450m fund in North West businesses. The office will be run by John Rastrick, partner at Phoenix, who joined the business from 3i in 2007 to set up the Phoenix Yorkshire office in Harrogate.

Navin buys majority share in Manchester Organics

Navin Fluorine International, an Indian-owned maker of industrial gases used in refrigerators, has bought a controlling stake in Runcorn chemical research company Manchester Organics.

EWC set for AIM flotation

Knowsley waste management company Environmental Waste Controls (EWC) has confirmed its intention to float on AIM.

Armstrong Watson buys Carlisle rival

Cumbrian accountancy firm Armstrong Watson has acquired Carlisle-based rival O’Reilly for an undisclosed sum.

Don't underestimate technology sector, says former Dragon

Former Dragons' Den investor Richard Farleigh has thrown his weight behind the UK technology sector as he sought to remind people not to discount what the country has to offer. Speaking at the Business North West event at Manchester Central, he told the audience that the "UK often underestimates how much exciting stuff it’s got going on".

Revenues up at ReThink

Manchester recruitment business The ReThink Group this morning announced a 24 per cent hike in revenues for the first quarter of its financial year, while first-half profits are expected to beat expectations.

James Fisher set fair

James Fisher and Sons has told the Stock Exchange trading in the first months of 2011 has been in line with management expectations with good growth in its overseas market. The Barrow-in-Furness-based marine services business said performance had been more flat in the UK.

Downton takes 100,000 sq ft in Runcorn

Pin Property, advised by CB Richard Ellis, has sold 100,000 sq ft at the Premier Point industrial facility on the Whitehouse Industrial Estate in Runcorn to logistics specialist Downton Distribution.

McFarlane takes Colliers reins

Colliers International has announced the appointment of Andrew McFarlane as the new head of its Manchester office with immediate effect.

Enterprise zone interest remains high, says MAG

MAG Developments, Manchester Airport’s property development business, has received about 120 enquiries per week since the government designated the airport as the enterprise zone for Greater Manchester, the company has confirmed.

Tague on Tour: In the eye of the beholder

Whether or not you like the Mann Island scheme, it's here to stay. Neil Tague casts his eye over a scheme that is dividing opinion.

In Focus: Why are the banks backing this Business Growth Fund?

Why is the proposed Business Growth Fund starting at businesses with turnover of £10m plus? Michael Taylor is suspicious.

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